Dobler Company purchased factory equipment with an invoice price of $60,000. Other costs incurred were freight costs, $1,300; installation wiring and foundation, $2,200; material and labor costs in testing equipment, $700; oil lubricants and supplies to be used with equipment is estimated to have a $5,000 salvage value at the end of its 10-year useful service life.
instruction (a) compute the acquisition cost of the equipment. clearly identify each element of cost (b) if the straight-line method of depreciation was used, depreciation expense for the second year would be
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Dobler Company purchased factory equipment with an invoice price of $60,000. Other costs incurred were freight costs, $1,300; installation wiring and foundation, $2,200; material and labor costs in testing equipment, $700; oil lubricants and supplies to be used with equipment is estimated to have a $5,000 salvage value at the end of its 10-year useful service life.
instruction (a) compute the acquisition cost of the equipment. clearly identify each element of cost (b) if the straight-line method of depreciation was used, depreciation expense for the second year would be
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